Pyrum Innovations entering Scandinavia with GreenTech JV

A consulting agreement with Swedish firm GreenTech Recycling Tires AB gives Pyrum Innovations AG its first point of entry into the Scandinavian market. On the proviso that GreenTech’s financing is fully secured, Pyrum will invest up to 3 million euros in a joint venture SPV (special purpose vehicle) to build a pyrolysis recycling plant capable of processing 20,000 tonnes of end-of-life tyres annually.

GreenTech has already found a suitable plant site in Billingsfors, Sweden and held talks with tyre suppliers. With Pyrum’s support, it will compile the necessary approval documents with a view to commencing basic engineering work in July 2024. The partners anticipate bringing the plant into production in 2027.

“We are very pleased about the cooperation with GreenTech as well as the trust placed in our Pyrum technology,” says Pascal Klein, chief executive officer of Pyrum Innovations AG. “With the construction of the joint plant in Sweden, we are taking the first major step towards opening up the Scandinavian market. We are looking forward to the new project with confidence and are now starting the further planning full of vigour.”

The current consulting agreement is Pyrum’s third concrete contractual agreement for the construction of a recycling plant, in addition to the project with Thermo Lysi SA in Greece and a planned facility in the Czech Republic.

Final piece in the value chain

“For us at GreenTech Recycling Tires AB, the agreement with Pyrum Innovation AG is our stepping stone in recycling end-of-life tyres from cars and trucks, fully reusing them to make new tyres, plastics and steel products instead of incineration,” says Per-Olov Lindgren, chairman of GreenTech Recycling Tires AB. “This is the last piece in the value chain for us, since we already today have both the supply of tyres and offset of the produced products when our plant is in place.”